Why do builders settle for less?

First a brief look at my background in new construction.

In 1995 I met a real estate agent named Don Richards at the Windermere office I had just moved my license to. Don was a project manager for another real estate agent in the area that represented several smaller spec type home builders. When Don approached me and asked if I would like to help out “sitting” a site in Sumner, WA being built by Hultquist Homes, I jumped at the chance! This is when my passion of selling new construction began. New construction became my niche market.

I learned all of my new construction knowledge from several individuals that had been selling new construction exclusively for several years. I decided that my background as a sales rep for a lumber yard back in the 1980’s was a huge bonus when it came to knowing the ins and outs of construction. My previous experience as a contractor sales rep had really given me the right tools to be knowledgeable in a profession I had just entered.

I learned from the bottom up. I first was asked to make sure the model home was furnished with marketing materials. A few weeks later I was asked to oversee the site open house schedule. With these tasks came more responsibility and a greater understanding of the new construction home selling process.

As the months and years went by I progressed from Assistant Project Manager under my partner Don Richards to Project Manager when he left the area to build his dream job in Alaska. After being the “bridesmaid” for the listing agent for several builders and projects I finally won my own project at Lakeland Hills in Auburn WA for the builder Abney/Revard out of OR. I was given the final phase of 22 homes after I submitted a very aggressive marketing plan. One so aggressive that I guaranteed I would personally “sit” the model home 7 days per week until all homes sold. I had a blast!

During my years as a Project Manager I was in charge of every aspect that marketing a new construction plat entailed. The list of duties is huge for an individual agent but I excelled at it.

The following is just a sample of the elements of new home construction sales I involved myself in.

• Designed, ordered and installed all marketing materials.
• Hired, trained, scheduled and supervised all site agents.
• Planned all “Grand Opening” and “Broker’s Open” house events.
• Developed a “New Construction Selling Guide” to assist agents.
• Attended weekly builder/escrow/lender production meetings.
• Arranged and scheduled final walk-thrus.
• Responsible for all NWMLS reporting.
• Responsible for all market research.
• Researched and developed bank proposal for a new plat in Renton, WA.
• Implemented several “Builder Addenda” to facilitate the option and upgrade process.

I do have to admit that during the years between 1995 and 2001 there wasn’t much emphasis put on personal web sites and blogging in my market area. Sure I had a web site, sure I utilized the NWMLS site and of course the Windermere web site for all of the projects, but I never once made an individual blog or web site for each project.

So back to my question, “Why do builders settle for less?”

After returning to the area in 2006 I reactivated my real estate license in 2007 and thought I would work in the resale arena to start my come back because I had moved to a different market area, most of my connections were out of the business and the market was slipping.

I now know that I need to get back to my “niche” – new construction, but with the rules on solicitation of another member’s listing I am really struggling with how to approach local builders. I am not going after the Quadrant, Chaffey, Norris type accounts. I am looking for that builder who is putting up 10 – 30 homes a year, maybe more. I am looking at finding a builder who is tired of not being treated like the big guys when it comes to marketing or representation.

I have visited several plats in the area that just don’t have any market plan, let alone an agent on site at a model home or trailer (yes I have sold many homes from a trailer or the trunk of my car). Where are the individual web sites for a small Kitsap County new home plat? Where are the marketing materials on site, like site maps, floor plans, brochures? Where are the site agents?

I really wonder how some builders sell homes if there is no marketing, let alone limited information usually with no photos, floor plans or much information on the Northwest Multiple web site. I wonder what kinds of promises were made. What types of commissions were negotiated? What if anything is the builder getting for the cost of a commission.

Like I said I can not ask the builder due to a violation of my multiple rules. I can some say ask to have the opportunity to make a proposal on their next project. Ok, “really” do you think I wouldn’t get my hand slapped for that one? I have never been given a true answer by the association or a Broker.

If you are a builder in Kitsap County reading this article and you would like more information YOU CAN CONTACT ME. If you make the first contact I am “off the hook” when it comes to solicitation. Of course I can not counsel you on how to fire your agent; you will need to read your listing contract for that information.

Featured Listing – 13895 Crestview Cir NW, Silverdale

Naval Base Kitsap | 2009 BAH Rates – Only 10 more Days

Well, it’s almost that time of year! How many times over the last few weeks have you seen the question posted on military boards across the net?

If you look in the right places you will always find the right answer.  I don’t hold much stock in military boards when it comes to important information. I always make sure that I find the source is a .mil site.  That way you know the information is correct.

Here is the link that gives the date -

Basic Allowance for Housing (BAH)

The Department of Defense, Per Diem, Travel and Transportation Allowance Committee page is one worth making a bookmark!

I will be writing about and posting the Naval Base Kitsap new rates as soon as they come out so be sure to check back!

Photo Credit:

U.S. Navy photo by Mass Communication Specialist 2nd Class Kevin L. Burleson (RELEASED)

Here we go a caroling |Historic Poulsbo | Holiday Caroling Competition

Holiday Caroling Competition
When: December 13th Starts at 2:00 p.m.
Where: Historic Downtown Front Street.

Mark your calendar! Saturday, December 13th is the date for this years Holiday Caroling Competition in Poulsbo.

The competition will begin on Front Street in historic downtown Poulsbo.  You will be able to vote for your favorite group and after the event you are invied to the mass sing-a-long.

Join your Poulsbo neighbors for the great family fun event and help support your local food bank.

For more information: Carol 779-7219

Navy Band Northwest’s Wind Ensemble | Holiday Concert

I have attended several Holiday Concerts preformed by military bands over the last few years and can say that the experience always lifts my spirits and allows me to focus on the Holiday Season.

If you would like to experience some Holiday Cheer then plan on attending the Holiday Concert this Thursday preformed by the Navy Band Northwest’s Wind Ensemble at Bremerton High School.

As always admission is FREE

December 11, 2008 – Thursday, 7:00 p.m.
Holiday Concert
Bremerton High School, Bremerton, WA
Navy Band Northwest’s Wind Ensemble

Photo Credit:

071210-N-9860Y-002 OAK HARBOR, Wash. (Dec. 10, 2007) Navy Band Northwest (NBNW) Big Band, “Cascade,” plays “Holly and the Ivy/God Rest Ye Merry Gentlemen‚” at the “Holly, Jolly Holiday‚” concert held in Parker Hall of Oak Harbor High School. The free, all ages event was the fourth annual performance by NBNW in Oak Harbor for the holiday season and featured many classic songs as well as humorous skits by the members. U.S. Navy photo by Mass Communication Specialist 2nd Class Tucker M. Yates (Released)

Real Estate News | NWMLS

Click the link for the Northwest Multiple Listing Service’s press release

November’s Housing Activity in Western Washington Reflects “Microclimates”

press release.

Bremerton WA Real Estate Market Report Recap |November 2008

Here is the Real Estate Market Activity for January – November 2008.  Check back each month to see the monthly 2008 trend for Bremerton WA.

On November 30th there were 591 homes for sale with 6 of those homes listed as a contingent sale and 58 homes listed as Pending Inspection (new NWMLS term STI was replaced) which means there is a contract that has been presented and accepted by the seller with the condition of the home inspection or a feasibility study.

Once the home inspection has taken place these 58 homes will either go back on the market or be listed as pending. These homes are not available for public view and will not show in the active section of the Northwest Multiple Listing Service. (NWMLS) – this will be changing in December.  You will be able to go to broker websites and see the status. Ie:

Public Display of Pending Listings

In response to the request from the membership, effective Monday, December 15^th, listings in the Pending, Pending Inspection, Pending Feasibility, and Pending BU Requested status will be available for public display on broker websites.

During the Month of November  96 homes were new to the Bremerton area Real Estate Market.

During the Month of November 58 homes went under contract and were removed from the active Bremerton homes data base. The median price for Bremerton area homes was $199,725 with a market time of 111 days (median).

During the Month of November 44 homes sold – which means that ownership changed hands and there are new owners listed on the tax records recorded at the Kitsap County courthouse. These Bremerton area homes were on the market 94 days (median) and sold for a median price of $225,500.

An absorption rate is the mathematical relationship of supply and demand. The absorption rate is the number of months it would take to sell the entire inventory of homes in the Bremerton area of Kitsap County if the pace were to stay constant.

The Absorption rate in the Bremerton area is 58.22 weeks or approximately 13.43 months of inventory if the current conditions remain unchanged. These figures have increased.Wow! This figure sure jumped – with only 44 homes sold that is the reason.  Remember absorption rates track trends. Hope this trend reverses it’s self!

Using absorption rates can help you define markets.  My definition breaks down like this…

Normal Market - Between 5 and 6 months of inventory.

Seller’s Market - Between 1 and 4 months of inventory.

Buyer’s Market – 7 months and higher.

If you would like to find out the value of your home please feel free to contact me via phone or email. I would be more than happy to supply you with a
FREE Market Analysis
.

If you would like to purchase a home in the Bremerton WA Real Estate Area please give me a call or contact me via email. We can discuss your future plans and I can set you up on an email campaign to receive the hot new listings quicker than YOU can find them.

“Statistics not compiled or published by NWMLS.”
Equal Opportunity Housing
All information deemed reliable, but not guaranteed

Jo Soss-Olson · WestSoundLive · Copyright © 2008 · All Rights Reserved

Port Orchard Video

A couple of months back I received a contact from Ron Finney of NorthWoods Productions requesting permission to use a photo I had taken and uploaded to Google Images. This photo uploaded to Google led him to my web site where the photo is used. You see Ron was in the process of putting together the Visitor’s Video for the Port Orchard Chamber of Commerce and must have been researching for local area photos. Of course I said yes and have been checking for the video on-line every so often.

Well, today I was reading the blogs over at the Kitsap Sun – the local newspaper and found the information on Chris Henry’s blog Speaking of South Kitsap about the release of Ron’s video.

“Ferries, Bridges and Boats: The Adventure Begins with the Journey”

If you look real quick at 9:33 on the time line there is a picture I took of the Naval Museum in Bremerton. How exciting to be a part of the local area! Thanks Ron for including me in the video and you did an amazing job! I love it and will be sending the link to those relocating to the area!